Highlights from the IRS ReportFS-2013-7, June 2013 — The report released by Principal Deputy Commissioner Danny Werfel reflects a number of important findings, aggressive actions and next steps to help the IRS make improvements.

QuickAlert (7-1-2013): Electronic Management System (EMS) Downtime: The Electronic Management System (EMS) located at Martinsburg, West Virginia and Memphis, Tennessee will be unavailable from Wednesday, July 3, 2013, at 11:00 p.m. Eastern Time through Saturday, July 6, 2013, at midnight. The shutdown is due to the Fourth of July holiday and the current budget situation; all IRS offices are closed on July 4th and 5th, 2013.

The next tentatively scheduled power outage will take place on July 22, 2013.

Disclosure Authorization and Electronic Account Resolution retire this August, IRS Closed Due to Budget and Sequester, Mexican Land Trusts Addressed, Questions and Answers on 501(c) Organizations, and more...

This notice proposes a revenue procedure describing circumstances in which the Internal Revenue Service (IRS) will not treat a redemption of shares in a money market fund as part of a wash sale under § 1091 of the Internal Revenue Code. The proposed revenue procedure provides that if a taxpayer realizes a loss upon a redemption of certain money market fund shares and the amount of the loss is not more than a specified percentage of the taxpayer’s basis in such shares, the IRS will treat such loss as not realized in a wash sale.

Notice 2013-44 announces that the IRS and Treasury will amend the check the box regulations to add the Croatian dionicko drustvo entity to the check the box list of per se corporations. Notice 2013-44 will be in IRB 2013-29, dated July 15, 2013.